The magic triangle as a project management tool
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| − | The definition of project success to many has been limited to only three main measurement criteria popularly known as ‘The iron/magic triangle’ (''Atkinson, 1999)''. According to Freeman & Beale,1992 - these are the three key pillars of the triangle and includes ''‘Cost’'' –measured in terms of meeting the budget, ''‘Time’'' – measured in terms of meeting the schedule, and ‘''Quality and Scope’'' – measured in terms of meeting the requirements and scope, adhering to functional and technical specifications, defects, and reliability at the commencement of the execution phase. | + | The definition of project success to many has been limited to only three main measurement criteria popularly known as ‘The iron/magic triangle’ <ref>(''Atkinson, 1999)''. According to Freeman & Beale,1992 - these are the three key pillars of the triangle and includes ''‘Cost’'' –measured in terms of meeting the budget, ''‘Time’'' – measured in terms of meeting the schedule, and ‘''Quality and Scope’'' – measured in terms of meeting the requirements and scope, adhering to functional and technical specifications, defects, and reliability at the commencement of the execution phase. |
This article focuses on the magic triangle as a project management tool for delivering the scope of a project taking into account cost estimation and some limitations of this triangle in project management. Some modifications by PMBOK have also been given in this article. | This article focuses on the magic triangle as a project management tool for delivering the scope of a project taking into account cost estimation and some limitations of this triangle in project management. Some modifications by PMBOK have also been given in this article. | ||
Revision as of 01:53, 6 March 2022
Abstract
The definition of project success to many has been limited to only three main measurement criteria popularly known as ‘The iron/magic triangle’ Cite error: Closing </ref> missing for <ref> tag
